PROFUNDS

Bitcoin Strategy ProFund (BTCFX)
(the “Fund”)

Supplement dated September 29, 2023
to the Fund’s Summary Prospectus and Statutory Prospectus
dated November 30, 2022, as supplemented or amended

Important Notice Regarding a Change in the Fund’s Investment Objective

Effective on or about December 4, 2023, the “Investment Objective” section of the Summary Prospectus and the Summary Section of the Statutory Prospectus and the “Investment Objective, Principal Investment Strategies and Related Risks” section of the Statutory Prospectus for the Fund is deleted in its entirety and replaced with the following:

Bitcoin Strategy ProFund (the “Fund”) seeks investment results, before fees and expenses, that correspond to the performance of bitcoin. The Fund currently seeks to achieve this objective primarily through investments in bitcoin futures contracts. The Fund does not invest directly in bitcoin.

For more information, please contact the Funds at 1-888-776-3637.
Please retain this supplement for future reference.